12:56 PM
Anonymous
Sony said Thursday it will acquire Ericsson's 50 percent share in
their Sony Ericsson mobile phone joint venture, turning the company into
a subsidiary in January 2012.
Sony also said in a press release that it will pay Ericsson €1.05 billion (US$1.5 billion) in the deal, which includes several sets of related set of exclusive rights and a cross-licensing agreement for intellectual property.
Sony has until now launched its smartphones through the joint venture, which began operations in 1981. The deal will allow it to integrate phones into its overall product lineup, as rivals such as Apple and Samsung do now, and better leverage its broad music and movie holdings.
Sony also said in a press release that it will pay Ericsson €1.05 billion (US$1.5 billion) in the deal, which includes several sets of related set of exclusive rights and a cross-licensing agreement for intellectual property.
Sony has until now launched its smartphones through the joint venture, which began operations in 1981. The deal will allow it to integrate phones into its overall product lineup, as rivals such as Apple and Samsung do now, and better leverage its broad music and movie holdings.
The joint company has recently released its
advanced phones under the Xperia brand, and Sony has expanded its
streaming networks and game download services to work on the
Android-driven devices.
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